Legacy Financial Strategies LLC Sells 19,317 Shares of T. Rowe Price Group, Inc. $TROW

Legacy Financial Strategies LLC reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 87.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,687 shares of the asset manager’s stock after selling 19,317 shares during the period. Legacy Financial Strategies LLC’s holdings in T. Rowe Price Group were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Tidal Investments LLC lifted its stake in shares of T. Rowe Price Group by 8.7% during the 4th quarter. Tidal Investments LLC now owns 7,109 shares of the asset manager’s stock worth $804,000 after acquiring an additional 568 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of T. Rowe Price Group by 82.5% during the 4th quarter. Two Sigma Advisers LP now owns 18,800 shares of the asset manager’s stock worth $2,126,000 after acquiring an additional 8,500 shares during the last quarter. Woodline Partners LP bought a new stake in T. Rowe Price Group during the 4th quarter valued at $1,509,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in T. Rowe Price Group by 28.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock valued at $199,367,000 after purchasing an additional 387,604 shares in the last quarter. Finally, CSS LLC IL bought a new stake in T. Rowe Price Group during the 4th quarter valued at $249,000. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Barclays reaffirmed an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. Evercore ISI reaffirmed a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Morgan Stanley lifted their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $101.55.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $105.79 on Friday. The business’s 50-day simple moving average is $106.00 and its two-hundred day simple moving average is $97.54. The company has a market cap of $23.24 billion, a PE ratio of 11.82, a PEG ratio of 2.72 and a beta of 1.51. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.